October E-news Update      
Kaeding, Ernst & Company


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Economic Outlook - Let's start off with a very appropriate quote from Warren Buffet that fits today's financial markets quite well and is worth remembering: "Over the short term the markets are like voting machines but over the long term they behave more like a weighing machine."


New Deferred Compensation Legislation
For many months the House and Senate have been reviewing proposed deferred compensation rules, see the article in the June 2004 Industry Insider. Both the House and Senate recently passed a bill which includes significant non-qualified deferred compensation plan reform. It is expected that President Bush will sign this legislation. Many people expect him to sign it before the November 2nd election.


Inside the Byline - Learn about our leading investment industry contributors Clark Reed and John Blair.


See you next month!

For more information, contact Ross Freedman or visit www.kaedingco.com.

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Kaeding, Ernst & Company
65 Boston Post Road, West, Suite 350
Marlboro, MA 01752

 
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